For most couples, Valentine’s Day is a huge part of their relationship. Giving and receiving some sort of gift is common. Going out to eat or having a romantic dinner at home is essential. Unless, of course, you’re one of those people who sees it as nothing more than a money-grab. Even then, if your significant other is expecting something, we dish out the cash to make it so.
So, how much do people expect to spend on Valentine’s Day? The breakdown is actually quite different when looking at the individual sexes. Even the amount of time spent together impacts the amount of money spent. For example, do married couples spend more or less on Valentine’s Day than engaged couples?
Lendingtree revealed a survey that said most men plan to spend around $95. For married couples, that price fell to $57. It would seem as if married couples plan on having less of a romantic day than newer couples. Engaged couples spend $92 while dating couples spend $88. While men plan to spend more money, the reason why the averages drop is women.
On average, women only expect to spend around $41 for their loved one. It goes to show that Valentine’s Day really isn’t a day for the men. Instead, they would rather do the spoiling and the spending to ensure their ladies have an amazing day. So, how do these numbers break down when it comes to overspending?
Overspending/Underspending on Valentine’s Day
There seems to be a fine line on how much is too much…or too little. Spending money on gifts for Valentine’s Day is essential for a lot of couples. But, there are those couples who know money is tight and they have better things to spend their money on. Expensive chocolates, roses, and dinner don’t have to be a part of the plan.
The same survey revealed the couples found overspending on this holiday a much riskier proposition. Just 4% of couples said they would feel disappointed if their partner spent less money. Yet, 25% said they’d be frustrated if their partner spent too much. This is a good sign that most couples have their financial priorities in order.
With this being said, it would appear most couples don’t really plan too far ahead for Valentine’s Day. One-third of couples don’t expect or demand any gift while an even higher number say they don’t have plans. It’s not really a ‘big day’ most couples plan for. Rather, it’s seen as a ‘grab roses on the way home from work’ sort of holiday.
Generational Spending
Valentine’s Day spending isn’t just broken down between the sexes. No, we also have numbers on how each generation plans to spend money. As you would expect, the younger generation plans to spend the most at $113! Generation Z is keeping the romance alive and appears to have the most to gain.
As we branch out into Millennials, they only plan on spending $49, less than have of Gen Z. Baby boomers will spend even less than that, saying they don’t want partners spending too much.
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Really, the holiday breaks down into so many age gaps and categories. Those who have the most to gain, the younger generation, plans on spending the most money. They are still at the age where it takes more money to impress that special someone. Over time, less money is spent on Valentine’s Day and often less is expected.
